Verde Bio (VBHI) Announces Divestiture, Collects Profits and Continues to Seek Opportunities
Today, Verde Bio Holdings (VBHI) announced an opportunistic divestiture of assets. The sale to a private buyer closed on 6/23/23 for $398,750. The transaction was comprised of 55% interest in three of VBHI’s non-core lower performing assets. The company intends to reinvest all proceeds from the recent sale into higher performing assets as they evaluate a number of other potential acquisitions.
Despite its current size, VBHI has an opportunity for growth potential due to many factors including their unique strategy, in the space. VBHI is a mineral rights and acquisitions specialist acquiring interests in lower risk, onshore oil and gas properties within the major oil and gas plays in the United States.
“This is a great example of responsible portfolio management and solid execution of our business model,” Mr. Cox, CEO of Verde, stated. “Our strategic acquisition strategy allowed us to purchase these assets at historically low prices and then monetize them as commodity prices rose to recent highs.”